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Evolve Canadian Equity UltraYield ETF (CANY.TO) Alternatives

ETF · Currency in CAD · Last updated Jun 9, 2026

CANY invests in leading Canadian companies and employs a covered call strategy on around 50% of the portfolio with modest leverage to generate enhanced income.

Evolve Canadian Equity UltraYield ETF (CANY.TO) belongs to the Derivative Income category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with CANY.TO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to CANY.TO

CANY.TO charges 0.40% annually. There are 7 ETFs in the Derivative Income category with lower expense ratios, going as low as 0.04%.

SymbolNameExpense RatioAUMInception
USCL.TO
Global X Enhanced S&P 500 Covered Call ETF0.04%249.21MJul 2023CANY.TO vs USCL.TO
EQLI.TO
Invesco S&P 500 Equal Weight Income Advantage ETF0.29%155.19MNov 2025CANY.TO vs EQLI.TO
ECHI.TO
Ninepoint Enhanced Canadian HighShares ETF0.29%—Aug 2025CANY.TO vs ECHI.TO
HBIL.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...0.35%230.50MSep 2024CANY.TO vs HBIL.TO
JEPQ.TO
JPMorgan Nasdaq Equity Premium Income Active ETF0.35%136.22MSep 2024CANY.TO vs JEPQ.TO

Best Risk-Adjusted Alternatives to CANY.TO

Among 54 ETFs in the Derivative Income category with risk / return rank data, the top risk-adjusted alternatives shown here go as high as 97.

SymbolNameRisk / Return RankAUMInception
BANK.TO
Evolve Canadian Banks and Lifecos Enhanced Yield I...
97
1.11BFeb 2022CANY.TO vs BANK.TO
BKCL.TO
Global X Enhanced Equal Weight Canadian Banks Cove...
96
188.69MJul 2023CANY.TO vs BKCL.TO
BKCC.TO
Global X Equal Weight Canadian Bank Covered Call E...
96
376.74MMay 2011CANY.TO vs BKCC.TO
HMAX.TO
Hamilton Canadian Financials Yield Maximizer ETF
94
2.38BJan 2023CANY.TO vs HMAX.TO
ZWC.TO
BMO CA High Dividend Covered Call ETF
94
2.31BFeb 2017CANY.TO vs ZWC.TO

Top Performing CANY.TO Alternatives (YTD)

Among 56 ETFs in the Derivative Income category with YTD return data, the top-performing alternatives shown here go as high as 35.71%.

SymbolNameYTD ReturnAUMInception
ENCL.TO
Global X Enhanced Canadian Oil and Gas Equity Cove...
35.71%
295.70MOct 2023CANY.TO vs ENCL.TO
NXF.TO
CI Energy Giants Covered Call ETF Common Units (CA...
30.32%
118.36MFeb 2015CANY.TO vs NXF.TO
EMAX.TO
Hamilton Energy YIELD MAXIMIZER ETF
29.07%
499.90MFeb 2024CANY.TO vs EMAX.TO
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ...
28.21%
771.12MApr 2011CANY.TO vs ENCC.TO
TXF.TO
CI Tech Giants Covered Call Common
24.61%
810.29MOct 2011CANY.TO vs TXF.TO

Lowest Volatility Alternatives to CANY.TO

Among 56 ETFs in the Derivative Income category with 1-year volatility data, the lowest-volatility alternatives shown here go as low as 1.64%.

SymbolNameVolatility 1YAUMInception
HBIL.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...1.64%230.50MSep 2024CANY.TO vs HBIL.TO
HPYM.TO
Harvest Premium Yield 7-10 Year Treasury ETF - Cla...4.48%228.87MJan 2024CANY.TO vs HPYM.TO
UMAX.TO
Hamilton Utilities YIELD MAXIMIZER ETF6.69%1.37BJun 2023CANY.TO vs UMAX.TO
ZWU.TO
BMO Covered Call Utilities ETF7.62%2.18BOct 2011CANY.TO vs ZWU.TO
HPYT.TO
Harvest Premium Yield Treasury ETF A7.97%379.44MMay 2024CANY.TO vs HPYT.TO

Lowest Drawdown Alternatives to CANY.TO

Among 54 ETFs in the Derivative Income category with 1-year drawdown data, the lowest-drawdown alternatives shown here go as shallow as -0.95%.

SymbolNameMax Drawdown 1YAUMInception
HBIL.TO
Hamilton U.S. T-Bill YIELD MAXIMIZER ETF (CAD Hedg...
-0.95%
230.50MSep 2024CANY.TO vs HBIL.TO
HPYM.TO
Harvest Premium Yield 7-10 Year Treasury ETF - Cla...
-3.87%
228.87MJan 2024CANY.TO vs HPYM.TO
HUTE.TO
Harvest Equal Weight Global Utilities Enhanced Inc...
-4.57%
99.44MOct 2022CANY.TO vs HUTE.TO
ZWU.TO
BMO Covered Call Utilities ETF
-4.86%
2.18BOct 2011CANY.TO vs ZWU.TO
UMAX.TO
Hamilton Utilities YIELD MAXIMIZER ETF
-5.11%
1.37BJun 2023CANY.TO vs UMAX.TO

Other ETFs from Evolve

The 10 most viewed Evolve ETFs shown here include UTES.TO, QQQT.TO, QQQY.TO and span 7 categories. AUM among these funds goes as high as $3B.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
UTES.TO
Evolve Canadian Utilities Enhanced Yield Index Fun...Derivative Income
86
13.00%
411.11MSep 2024CANY.TO vs UTES.TO
QQQT.TO
Evolve NASDAQ Technology Index Fund CAD HedgedNasdaq-100, Technology Equities
76
24.22%
172.88MJul 2023CANY.TO vs QQQT.TO
QQQY.TO
Evolve NASDAQ Technology Enhanced Yield Index FundNasdaq-100, Derivative Income
72
15.44%
135.58MOct 2025CANY.TO vs QQQY.TO
BIGY.TO
Evolve US Equity UltraYield ETFLarge Cap Blend Equities———Sep 2025CANY.TO vs BIGY.TO
EBNK.TO
Evolve European Banks Enhanced Yield ETF Hedged CA...Financials Equities, Derivative Income
40
4.15%
140.45MJan 2022CANY.TO vs EBNK.TO
OILY.TO
Evolve Canadian Energy Enhanced Yield Index Fund E...Energy Equities———Mar 2025CANY.TO vs OILY.TO
TECH.TO
Evolve FANGMA Index ETF Hedged CADTechnology Equities
20
-1.26%
154.74MMay 2021CANY.TO vs TECH.TO
SIXY.TO
Evolve Big Six Canadian Banks UltraYield Index ETFFinancials Equities———Dec 2025CANY.TO vs SIXY.TO
ETSX.TO
Evolve S&P/TSX 60 Enhanced Yield Fund CAD UnhedgedLarge Cap Blend Equities
81
7.18%
208.31MJan 2023CANY.TO vs ETSX.TO
HISA.NEO
Evolve High Interest Savings Account ETFMoney Market
99
0.88%
2.72BNov 2019CANY.TO vs HISA.NEO

Often Compared With CANY.TO

Investors most often compare CANY.TO with CDAY.NEO, BIGY, HDIV.TO. These 20 comparison targets span 7 categories, based on PortfoliosLab usage data.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
CDAY.NEO
Hamilton Enhanced Canadian Equity DayMAX ETFDerivative Income, Canada Equities—
12.96%
242.10MJul 2025CANY.TO vs CDAY.NEO
BIGY
 YieldMax Target 12™ Big 50 Option Income ETFDerivative Income
68
4.74%
37.40MNov 2024CANY.TO vs BIGY
HDIV.TO
Hamilton Enhanced Canadian Covered Call ETFDerivative Income
94
15.21%
1.67BJul 2021CANY.TO vs HDIV.TO
HYLD.TO
Hamilton Enhanced U.S. Covered Call ETFDerivative Income
74
12.41%
1.29BFeb 2022CANY.TO vs HYLD.TO
HHIC.TO
Harvest Canadian High Income Shares ETFCanada Equities, Derivative Income—
11.63%
197.74MAug 2025CANY.TO vs HHIC.TO
HHIS.TO
Harvest Diversified High Income Shares ETFDerivative Income
33
5.99%
1.69BJan 2025CANY.TO vs HHIS.TO
VOO
Vanguard S&P 500 ETFS&P 500
69
8.72%
1.60TSep 2010CANY.TO vs VOO
DFN.TO
Dividend 15 Split Corp.
97
17.29%
——CANY.TO vs DFN.TO
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index E...Dividend
98
21.54%
7.99BNov 2012CANY.TO vs VDY.TO
CRCY.TO
Harvest Circle Enhanced High Income Shares ETF Cla...Derivative Income———Sep 2025CANY.TO vs CRCY.TO
INTY.TO
Evolve International Equity UltraYield ETFDerivative Income———Jan 2026CANY.TO vs INTY.TO
TLV.TO
Invesco S&P/TSX Composite Low Volatility Index ETFCanada Equities
95
11.83%
99.35MApr 2012CANY.TO vs TLV.TO
^GSPC
S&P 500 Index
68
8.18%
——CANY.TO vs ^GSPC
HVOI.TO
Harvest Low Volatility Canadian Equity Income ETF ...Canada Equities———Apr 2025CANY.TO vs HVOI.TO
HCA.TO
Hamilton Canadian Bank Mean Reversion Index ETFCanada Equities
97
24.12%
98.40MJun 2020CANY.TO vs HCA.TO
HEWB.TO
Global X Equal Weight Canadian Banks Index Corpora...Canada Equities
97
21.47%
305.58MJan 2019CANY.TO vs HEWB.TO
HLIF.TO
Harvest Canadian Equity Income Leaders ETF Class ADerivative Income———Jun 2022CANY.TO vs HLIF.TO
BASE.TO
Evolve Global Materials & Mining Enhanced Yield In...Materials
76
23.85%
107.25MJun 2019CANY.TO vs BASE.TO
CBNK.TO
Mulvihill Canadian Bank Enhanced Yield ETFDerivative Income, Financials Equities———Feb 2022CANY.TO vs CBNK.TO
ETC.TO
Evolve Cryptocurrencies ETFCryptocurrency———Aug 2024CANY.TO vs ETC.TO

Compare CANY.TO with Any Fund or Stock

Compare CANY.TO with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

 

Diversifiers

Pair CANY.TO with funds that move differently

Evolve Canadian Equity UltraYield ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to CANY.TO.

Explore CANY.TO Diversifiers